Crumbl projects its sales next year to be $27 million and expects to earn 8% of that amount after income taxes. Crumbl plans on paying its shareholders $1.4 million in dividends and has a projected Retained Earnings balance of $1,800,000. If their tax rate is 15%, What is this year's beginning retained earnings for Crumbl?

Answer rating: 100% (QA)

Sales 27M Profit after tax is 8 of 27M 008 27 216M Prof... View the full answer